Question
The following is a record of Sandhill Companys transactions for the month of May 2017. May 1 Balance 360 units @ $22 May 10 Sale
The following is a record of Sandhill Companys transactions for the month of May 2017.
| May 1 | Balance 360 units @ $22 | May 10 | Sale 270 units @ $34 | |||
| 12 | Purchase 590 units @ $26 | 20 | Sale 510 units @ $34 |
Compute the cost of ending inventory using the moving-average method. (Round average cost per unit to 3 decimal places, e.g. 1.286 and final answer to 0 decimal places, e.g. 5,125.)The following is a record of Sandhill Companys transactions for the month of May 2017.
| May 1 | Balance 360 units @ $22 | May 10 | Sale 270 units @ $34 | |||
| 12 | Purchase 590 units @ $26 | 20 | Sale 510 units @ $34 |
Compute the cost of ending inventory using the moving-average method. (Round average cost per unit to 3 decimal places, e.g. 1.286 and final answer to 0 decimal places, e.g. 5,125.)
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Financial Accounting Theory And Analysis Text Reading And Cases
Authors: Richard G. Schroeder, Jack M. Cathey, Myrtle W. Clark
7th Edition
0471379549, 9780471379546
